ESAB Corporation (NYSE:ESAB) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

ESAB Corporation (NYSE:ESAB) has received an average rating of “Moderate Buy” from the eleven research firms that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $137.8889.

ESAB has been the subject of a number of research reports. Oppenheimer reissued an “outperform” rating and set a $140.00 target price on shares of ESAB in a research report on Tuesday, April 14th. Wall Street Zen downgraded shares of ESAB from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Jefferies Financial Group reissued a “buy” rating and set a $130.00 target price (down from $150.00) on shares of ESAB in a research report on Tuesday, March 31st. JPMorgan Chase & Co. reduced their target price on shares of ESAB from $148.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, April 10th. Finally, Roth Mkm set a $142.00 target price on shares of ESAB in a research report on Thursday, April 16th.

ESAB Trading Down 0.1%

NYSE:ESAB opened at $97.86 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.17 and a current ratio of 1.90. The firm has a market cap of $5.96 billion, a price-to-earnings ratio of 26.45, a price-to-earnings-growth ratio of 1.82 and a beta of 1.24. ESAB has a 52 week low of $89.41 and a 52 week high of $137.42. The firm has a 50-day moving average price of $104.65 and a two-hundred day moving average price of $113.04.

ESAB (NYSE:ESAB) last posted its quarterly earnings data on Friday, February 20th. The company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.34 by $0.01. The firm had revenue of $687.00 million during the quarter, compared to analyst estimates of $687.80 million. ESAB had a net margin of 7.98% and a return on equity of 15.38%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the business posted $1.28 EPS. On average, equities analysts expect that ESAB will post 5.82 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Thursday, April 2nd were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Thursday, April 2nd. ESAB’s dividend payout ratio is currently 10.81%.

Insider Buying and Selling at ESAB

In other news, CEO Shyam Kambeyanda sold 59,404 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $123.79, for a total transaction of $7,353,621.16. Following the completion of the transaction, the chief executive officer directly owned 99,864 shares of the company’s stock, valued at $12,362,164.56. This represents a 37.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ESAB. Fifth Third Bancorp boosted its holdings in ESAB by 359.4% in the 1st quarter. Fifth Third Bancorp now owns 15,858 shares of the company’s stock worth $1,533,000 after buying an additional 12,406 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in ESAB by 57.9% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,539 shares of the company’s stock worth $729,000 after buying an additional 2,765 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in ESAB by 2.6% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 11,744 shares of the company’s stock worth $1,135,000 after buying an additional 300 shares during the period. Ascentis Independent Advisors bought a new position in ESAB in the 1st quarter worth approximately $105,000. Finally, Stephens Inc. AR boosted its holdings in ESAB by 11.6% in the 1st quarter. Stephens Inc. AR now owns 52,006 shares of the company’s stock worth $5,027,000 after buying an additional 5,413 shares during the period. 91.13% of the stock is owned by institutional investors.

About ESAB

ESAB Corporation is a global leader in welding, cutting and gas control technologies, offering a comprehensive portfolio of equipment, consumables and automation solutions. The company’s products include welding power sources, cutting machines, torches, electrodes, filler metals and gas regulating equipment designed to meet the needs of diverse industries. ESAB serves sectors such as construction, shipbuilding, automotive, energy, infrastructure and manufacturing, providing both standard and customized solutions to enhance productivity and quality in metal fabrication and processing.

Founded in 1904 by Swedish inventor Oscar Kjellberg, ESAB pioneered the development of coated welding electrodes, laying the groundwork for modern welding practices.